Amherst, New York Property Taxes
The median property tax rate in Amherst, NY is 2.67%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Amherst at $208,100, the typical annual property tax bill reaches $5,717, exceeding the national median of $2,690. Property taxes in Amherst are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amherst's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Amherst or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amherst, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.67%
Estimate Property Tax Bill
$5,556
$5,156
Ownwell’s Amherst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amherst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amherst to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Amherst, New York
Property taxes in Amherst, NY, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amherst is 2.67%, significantly higher than the U.S. national median of 0.99%. Local government entities within Amherst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amherst estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Amherst's effective property tax rate to other areas in Erie County and the national median. For comparison, the 14228 zip code has the highest median property tax rate of 2.94%, while the 14226 zip code has the lowest median tax rate of 2.64%. Understanding how these areas compare with Amherst provides valuable insights into the varying tax landscape across Erie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amherst Tax Rate
2.67%
Average Erie County Tax Rate
1.96%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amherst, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14068 | N/A | N/A | N/A | N/A | N/A |
| 14221 | N/A | N/A | N/A | N/A | N/A |
| 14226 | 2.45% | 2.54% | 2.64% | 2.81% | 2.88% |
| 14228 | 2.55% | 2.88% | 2.94% | 3.05% | 3.15% |
Source: Ownwell
Property Tax Assessment Values Across Amherst, New York
In Amherst, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Erie County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Amherst, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Amherst is $208,100, with tax bills ranging from $4,478 at the 25th percentile to $8,745 at the 90th percentile. The highest median tax bill is found in the 14228 zip code at $6,452, while the lowest median tax bill is in the 14226 zip code at $5,497. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Amherst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amherst Assessed Value
$208,100
Average Erie County Assessed Value
$186,335
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amherst, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14068 | N/A | N/A | N/A | N/A | N/A |
| 14221 | N/A | N/A | N/A | N/A | N/A |
| 14226 | $137,800 | $162,200 | $205,400 | $283,800 | $359,460 |
| 14228 | $131,120 | $205,400 | $216,200 | $232,400 | $236,760 |
Source: Ownwell
Property Tax Bills Across Amherst, New York
In Amherst, Erie County, NY, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions or abatements are considered in this calculation. For instance, the median home price in Amherst is $208,100, which influences the assessed value and, consequently, the tax bill. Homeowners in Amherst can expect significant variability in their tax bills. The tax bill at the 25th percentile is $4,478, while at the 75th percentile, it rises to $7,170. At the 90th percentile, it reaches $8,745. The highest median tax bill in the area is $6,452 in the 14228 zip code, whereas the lowest is $5,497 in the 14226 zip code. Given that the national median property tax rate is 0.99%, homeowners in Amherst may find their tax rates comparatively high, impacting their overall housing costs significantly.
Average Amherst Tax Bill
$5,717
Average Erie County Tax Bill
$2,315
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Amherst, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14068 | N/A | N/A | N/A | N/A | N/A |
| 14221 | N/A | N/A | N/A | N/A | N/A |
| 14226 | $3,689 | $4,444 | $5,497 | $7,470 | $9,122 |
| 14228 | $5,333 | $6,009 | $6,452 | $6,826 | $7,159 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Erie Assessment Review Commission | |
| Website | erieny.maps.arcgis.com |